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Revolving Loan Funds Update
March 13, 2018
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Revolving Loan Fund Finance Update


Submit Your Proposal to Present at the 2018 CDFA National Summit
CDFA needs your help to source deals, projects and programs and will be accepting submissions for potential deals, projects and program presentations. If selected, each speaker will be given one complimentary registration to attend the CDFA National Summit.

MTC Pledges $10M for Affordable Housing Loan Program
The Metropolitan Transportation Commission (MTC) committed $10 million to establish a new revolving loan fund known as the Bay Area Preservation Pilot Fund to help nonprofit developers finance the acquisition and preservation of existing multifamily housing properties that are located in areas with high-frequency transit service.

ND Proposal Would Use Legacy Fund as RLF
The legislative proposal, outlined in a bill draft, would allow up to 15 percent of the Legacy Fund's principal balance—now $780 million available for the 2019-21 biennium—to finance a loan program for flood control and water supply projects, wastewater treatment plants and airport authorities.

OR Senate OKs Small Business Expansion Loan Fund
Senate Bill 1516 – which passed the Senate 29-0 – establishes a Small Business Expansion Loan Fund to be managed by Business Oregon. More than 95 percent of employers in Oregon employ fewer than 50 workers, and those same small businesses employ nearly 40 percent of the state's workforce.

Responsible Finance Calls on Credit Agencies to Support Financial Inclusion
CDFA partner Responsible Finance, a UK-based association dedicated to increasing fair finance, have released a major report on credit scoring and the impact it has on financial inclusion in the UK.

RLF Considered as Solution to Nashville, TN Affordable Housing
During the city's current development boom, thousands of affordable homes and apartment have been demolished or converted into more expensive housing. Nashville needs to add 31,000 new affordable rental units between 2017 and 2025 to keep up with demand, according to a city-commissioned report from last year.

YCDC Pursuing RLF for Housing Project Assistance
The York County Development Corporation (YCDC) is currently in the process of finding financing that could lead to the establishment of a revolving loan fund in olrder to better assist with housing projects.

Lancaster, PA to Create RLF for Sidewalk Repair
Street repair is the city's responsibility, while PennDOT maintains state roads, including those that pass through municipalities, but private owners are responsible for city sidewalks at their properties. Initially budgeted at $135,000, the fund will provide loans at no interest for projects to bring sidewalks up to code. 

NE State Senators Look to Eliminate Ties Between TIF and RLF
State senators gave swift support to a bill that would increase public scrutiny and narrow the uses of tax-increment financing — and also forbid North Platte's practice of redirecting portions of TIF funds into a revolving-loan fund for smaller projects.

Luzerne County, PA to Create $15M RLF for Infrastructure
The funds will be used for projects in designated low-to-moderate income areas and all projects must meet federal guidelines set by the Department of Housing and Urban Development to be approved.

Upcoming Events
Intro Tax Credit Finance WebCourse

CDFA Federal Financing Webinar Series: U.S. Department of Transportation (DOT)
April 12, 2018 - 2:00 PM Eastern
In this webinar, CDFA will convene transportation and infrastructure experts to discuss the financing tools available through the DOT. The main focus of the webinar will be on the Transportation Infrastructure Finance and Innovation Act (TIFIA), Transportation Investment Generating Economic Recovery (TIGER) Grants, and the Bicycle and Pedestrian Program.


New RLF Could Provide Support for PA Residential Owners
Press & Journal | Mar. 12 | Community Development | Revolving Loan Funds (RLFs)

Popularity of Lewis County RLF Demands Fund Replenishment
Journal & Republican | Mar. 1 | Revolving Loan Funds (RLFs)

Waynesboro, VA Offering RLF Loans at Zero Percent Interest
WVIR-TV | Feb. 13 | Revolving Loan Funds (RLFs)

New Additions to the Online Resource Database

CDFA EDA Revolving Loan Fund Webinar Series: Maximizing Revolving Loan Fund Impact
Revolving Loan Funds (RLFs) | U.S. Dept. of Commerce (DOC) | U.S. Economic Development Administration (EDA)
Revolving Loan Funds (RLFs) are finance tools that can be used to help grow small and mid-sized businesses. A RLF is a funding pool that replenishes itself through repayments of principal and grows through the payment of interest. While the majority of RLFs support local businesses, some target specific areas such as health care, technology, and infrastructure. Listen as Ryan Richardson, Randy Pellisero and Lonnie Saboor explore what has made their organizations EDA Revolving Loan Fund program so successful.

The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300

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